News Corp Australia Network

Reuben Hanson with his four-year-old daughter in the Paddington home they are selling. Picture: Liam Kidston.

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SOME would say the view from Reuben Hanson’s place is priceless, but it’s actually worth hundreds of thousands of dollars.

The Paddington home in the aptly titled View Street is being sold with the air rights to the neighbouring property — a rare and valuable addition in the Brisbane market.

BEFORE: The exterior of the house at 56 View St, Paddington, before it was renovated. Picture supplied.

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AFTER: The exterior of the house at 56 View St, Paddington, after it was renovated. Picture supplied.

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The inner Brisbane suburb of Paddington has been identified as a market where prices for both houses and units are set to rise in the latest Hotspotting Price Predictor Index produced by property analyst, Terry Ryder.

Mr Hanson said part of the appeal of the rundown property when he purchased it three years ago was that the previous owners had bought the air rights to the space above the property in front so they could protect the city and suburb views from the back deck.

BEFORE: The living room in the home at 56 View St, Paddington, before it was renovated. Picture supplied.

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AFTER: The main living area of 56 View St, Paddington, after it was renovated. Picture supplied.

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AFTER: The view from the deck at 56 View St, Paddington. Picture supplied.

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The home has since undergone a $2m-plus renovation with the help of David Gockel from Gockel Architects and Diezel Constructions.

Mr Hanson said the planning and build took about 18 months.

BEFORE: The kitchen at 56 View St, Paddington, before it was renovated. Picture supplied.

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AFTER: The kitchen at 56 View St, Paddington, after it was renovated. Picture supplied.

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“We have done a few of these so we love doing the demolition and we have been hands-on helping the builder every moment we can,” Mr Hanson said. “It’s a real passion of mine.

“This is our fifth renovation, and we won’t stop here, we just love the process and the love of creating beautiful things.”

BEFORE: One of the bathrooms in the home at 56 View St, Paddington, before it was renovated. Picture supplied.

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AFTER: One of the bathrooms in the home at 56 View St, Paddington, after it was renovated.

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The modern, five-bedroom, three-bathroom house features a 25m heated lap pool, a home office, a courtyard with built-in barbecue, a gym, four-car garage, and views of the city skyline from every front room.

Patrick McKinnon of Place Estate Agents, who is marketing 56 View St, said a great view could add “significantly more” to the value of a property, and the view at the Paddington property was “literally irreplaceable”.

“There’s nothing like it, and it can’t be built out,” Mr McKinnon said.

BEFORE: One of the bedrooms at 56 View St, Paddington, before it was renovated. Picture supplied.

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AFTER: One of the bedrooms at 56 View St, Paddington, after it was renovated. Picture supplied.

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He said renovated or newly built homes were attracting strong demand.

“All the hard work’s been done,” he said. “Someone can just move in without the pain of two years’ building.

“The people looking at this home are going to live here a long time. Their kids are going to school nearby. They’re time poor and can appreciate the major work has been done.”

The median house price in Paddington is $1.85m and the median unit price is $640,000, according to the latest PropTrack figures.

The city skyline views from the inner Brisbane suburb of Paddington.

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